Changes the assessment cycle for determining the assessed valuation of subclass (1) residential real property from two years to four years, beginning in 2027

HB 1467 changes how residential real property in Missouri is valued for tax purposes by extending the assessment cycle from every two years to every four years, starting in 2027. This shift means that once a home's value is determined, that same valuation will apply for three additional years rather than just one, reducing the frequency with which property owners face reassessments. The bill also establishes a specific process for creating and approving multi-year assessment maintenance plans and outlines rules for computer-assisted valuations, including a presumption that assessments made by computer are accurate unless proven otherwise. These changes directly affect homeowners, county assessors, and local governing bodies by altering the schedule and administrative procedures for calculating property taxes.